On a sheet of notebook paper, draw a purchases journal like the one that appears in Exhibit
Question:
On a sheet of notebook paper, draw a purchases journal like the one that appears in Exhibit AII.12 and journalize the following March 2020 transactions for Suttleton Company.
Mar. 2 Purchased $4,800 of merchandise from Tex Company; terms 3/10, n/20.
12 $14,000 of merchandise was purchased from Littleton; terms 2/15, n/30.
13 Worsley Company sold Suttleton $9,400 of office furniture; terms 2/15, n/45.
Exhibit AII.12
Transcribed Image Text:
Outdoors Unlimited Purchases Journal Page 1 Accounts Merchandise Office Payable Cr. Other Inventory Supplies Accounts Date of Dr. Date Account Credited Terms PR Dr. Dr. Invoice 2020 Feb. 3 Hornung Supply Co. 5 Ace Mfg. Co. 13 Wynet & Co. 20 Smite Co. 25 Ace Mfg. Co. 28 Store Supplies/ITT Co. 28 Totals n/30 / 52/10, п/30 10 2/10, n/30 18 2/10, n/30 24 2/10, n/30 Feb. 2 -350 275 75 -200 -150 200 150 300 -300 100 100 125 n/30125/ -225 1.325 (201) 25 100 (124) 75- 28 1.150 (119) 75 (X) Individual amounts in the Column totals, except for Other Accounts column, are posted at the end of the period. Other Accounts Debit and Accounts Payable Credit columns are posted daily. Accounts Payable Subledger Ace Mfg. Company General Ledger Merchandise Inventory No. 119 Date PR Debit Credit Balance Date PR Debit Credit Balance 2020 Feb. 5 P1 25 P1 2020 200 100 200 16,250 1,500 14,750 |12,550 2,200 3,350 Jan. 31 Feb. 28 S3 28 CR2 28 P1 1,150 300 ITT Company PR Debit Credit Balance Date 2020 Office Supplies No. 124 Feb. 28 P1 225 225 PR Debit Credit Balance Date 2020 Hornung Supply Company Date PR Debit Credit Balance 2020 100 Feb. 28 P1 100 Store Supplies No. 125 Feb. 3 P1 350 350 Date PR Debit Credit Balance 2020 Feb. 28 P1 Smite Company 75 75 PR Debit Credit Balance Date 2020 Accounts Payable No. 201 Feb. 20 P1 300 300 Date PR Debit Credit Balance 2020 Wynet and Company Jan. 31 Feb. 28 P1 -0- PR Debit Credit Balance Date 1,325 1,325 2020 150 Feb. 13 P1 150
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Related Book For
Fundamental Accounting Principles Volume I
ISBN: 978-1260305821
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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